Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
Gains were led by index heavyweights Reliance Industries and Infosys.
The Sensex has slid 18.5 per cent from its January 2015 peak.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
The broader markets were firm with mid-caps and small-caps gaining 1-1.4 per cent on the BSE.
Oil tanked to a 7-year low as OPEC decided to maintain production.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
Sensex,Nifty to remain under pressure through the week.
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
The 30-share Sensex ended in the red.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
The broader markets traded positively with mid-caps and small-caps rising 0.5 per cent each on the BSE.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
Investors will maintain a cautious stance.
The broader NSE Nifty gained 22 points to 10,480.60
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
After a volatile session, Sensex closed the day 563 points lower
Sensex remained volatile through the day.
Indian indices fell more than those of most other emerging markets.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
The rupee fell to a two-year low of 64.84 against the US dollar.
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
There are few strategies to invest safely in a volatile market.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Markets closed in the red on domestic worries.